Bitcoin climbs as companies increasingly use tokens to ‘hedge against inflation’

Bitcoin (BTC-Us) rose towards a new level on Tuesday, as investors continue to bet on the Trump administration’s friendly position towards the encryption industry, and companies add the increasingly distinctive symbol to their public budgets.

As of one o’clock in the evening, the distinctive symbol was traded slightly less than $ 109,000, or approximately $ 3,000 of touching its highest level ever in May.

More adoption of the partially distinctive symbol has been adopted by dozens of public companies that get a bitcoin vehicle.

“Over time, Bitcoin has proven to be better against inflation than many other asset categories,” said Elliot Johnson, CEO of Bitcoin Treasury Corp, an institutional company for Bitcoin lending services.

Johnson notes that over the past five years, Bitcoin has increased more than 1000 % while gold has returned by 92.5 %.

“Meanwhile, the US dollar has lost more than 20 % of its value over the past five years due to inflation,” Johnson said.

However, the approach is led by the strategy and its transcription by dozens of companies carrying risks.

“The main risks in managing the Bitcoin Treasury strategy, benefiting from this, said that the rapid decrease in Bitcoin price will lead to bankruptcy.”

On Monday, the shares of Bitcoin Juggernaut Strategy (MSTR) jumped more than 4 % after the company said it had bought 1045 other code from June 2 to June 8, with total property worth more than $ 62 billion, according to Bloomberg data.

but “[Strategy]Bernstein, Bernstein’s analyst, wrote difficult to repeat. [Strategy]Play book, in our view. “

Trump’s shares of Media and Technology (DJT) fell by more than 10 % during one session in May after the Trump -backed company announced plans to create what it claims will be one of the largest bitcoin bonds kept by any public company.

The Gamestop (GME) shares also slipped by approximately 25 % immediately after the company announced in March that it would raise $ 1.3 billion to buy bitcoin.

About 80 companies have adopted the so -called bitcoin standard by adding the distinctive symbol to their public budgets. Companies now have 3.4 % of all traded symbols, according to Bernstein’s analysis.

“Bitcoin is great, we love her and we still believe that 200 thousand dollars is our high inclusion, but he expects the price of the portfolio this course,” said Chogan Bernstein on Monday.

The cryptocurrency increased more than 55 % since president Trump, who promised a friend of encryption, was elected last November.